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So are offering more (in a squeeze) to hire or poach skilled people from competitors, and kicking the "human capital" can down the road bacause of the greater costs involved. It depends on how each employer defines his narrow self-interest.

If there has in fact been a decline in in-house training because of the slump (and demography), then possibly the government will need to intervene to encourage picking it up again. But that will take time. Attempting to attract skilled labour from elsewhere may plug some gaps, but it will also take time (and may not play well with German opinion).

My point is not to say the Ernst & Young report is accurate and that Germany is running into a tight skilled-labour market for middling manufacturors - I (we) don't have the answer to that. But it may be the case, or soon become so, because the availability of skilled labour is surely a limiting factor on German export expansion.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 26th, 2011 at 10:25:56 AM EST
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